Biohaven Ltd. (NYSE:BHVN) Receives $52.00 Average PT from Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN) have earned a consensus recommendation of “Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $52.13.

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Biohaven from $32.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. TD Cowen upped their price target on Biohaven from $35.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research report on Thursday, April 18th. HC Wainwright upped their target price on shares of Biohaven from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of Biohaven in a report on Tuesday, April 9th.

Biohaven Trading Down 0.5 %

NYSE BHVN opened at $38.54 on Friday. Biohaven has a 12 month low of $12.35 and a 12 month high of $62.21. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of -6.81 and a beta of 1.18. The company’s 50 day moving average is $51.32 and its two-hundred day moving average is $41.79.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.40). Sell-side analysts forecast that Biohaven will post -5.85 EPS for the current year.

Insiders Place Their Bets

In other Biohaven news, CEO Vlad Coric bought 121,951 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were purchased at an average cost of $41.00 per share, for a total transaction of $4,999,991.00. Following the transaction, the chief executive officer now owns 1,788,417 shares of the company’s stock, valued at $73,325,097. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Gregory Bailey acquired 25,503 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were acquired at an average price of $39.18 per share, for a total transaction of $999,207.54. Following the completion of the transaction, the director now directly owns 1,600,071 shares of the company’s stock, valued at approximately $62,690,781.78. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Vlad Coric bought 121,951 shares of the stock in a transaction dated Monday, April 22nd. The stock was purchased at an average price of $41.00 per share, with a total value of $4,999,991.00. Following the acquisition, the chief executive officer now directly owns 1,788,417 shares in the company, valued at approximately $73,325,097. The disclosure for this purchase can be found here. Insiders acquired 196,234 shares of company stock valued at $7,999,179 in the last three months. Corporate insiders own 16.00% of the company’s stock.

Institutional Trading of Biohaven

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. bought a new position in shares of Biohaven during the fourth quarter valued at approximately $214,000. Prevail Innovative Wealth Advisors LLC bought a new position in Biohaven in the 4th quarter valued at $230,000. Private Advisor Group LLC bought a new stake in shares of Biohaven during the fourth quarter worth $231,000. Capstone Investment Advisors LLC purchased a new stake in shares of Biohaven during the fourth quarter valued at $235,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Biohaven in the third quarter worth about $236,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

Biohaven Company Profile

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.